Pats settles with TT

ISV Patsystems has agreed to settle a patent infringement
lawsuit brought against it by Trading Technologies (TT). Under
the terms of the settlement, TT has issued a licence for its
patented technology to Patsystems.

According to the licence, Patsystems will pay TT a variable
royalty of at least ten cents per side on all contracts traded
through its old trading screen, DOME. However, its work around
technology, Reflector, does not incur a royalty and TT has
agreed never to sue for infringement against it.